In a significant boost to its order book, Western Australian contractor NRW Holdings has announced a major mining services contract valued at $750 million for work at Queensland's state-owned Meandu coal mine.
Contract Details and Scope of Work
The company confirmed the new agreement on Monday, 19 January 2026, with work scheduled to commence this month. The contract spans a total of 5.5 years, which includes an initial six-month mobilisation period.
Under the terms of the deal, NRW's subsidiary, Golding Contractors, will operate and maintain three fleets of heavy mining equipment supplied by TEC Coal. The extensive scope for Golding also encompasses:
- Operation and maintenance of a dragline excavator.
- Management of the processing plant.
- Statutory responsibilities and mine planning.
The work will be carried out at the Meandu mine site, located in the Burnett region of South Queensland, and is expected to create employment for approximately 400 workers sourced from the local area.
Strategic Importance for NRW
NRW's Chief Executive, Jules Pemberton, said the award reflected Golding's strong reputation for delivering safe and efficient contract mining services. He emphasised the strategic fit of the agreement, noting its "capital light structure" aligns with the group's goal of reducing capital intensity in its mining operations.
"This positions the group well to be able to deliver continued value to our shareholders," Mr Pemberton stated.
The mining division is NRW's largest revenue earner, generating about $1.5 billion last financial year. Its other divisions include civil works ($823.7 million annually) and a specialised minerals, energy, and technologies business ($932 million).
Growth Trajectory and Market Reaction
This substantial contract win follows NRW's strategic $200 million acquisition of a Sydney-based electrical contractor in September last year. Mr Pemberton previously described that move as "the missing piece" for the mining and civil-focused business, opening doors to new projects in data centres, defence, and national infrastructure.
On the market, NRW shares saw a slight dip of 0.18 per cent in early Monday trading, settling at $5.61, giving the company a market capitalisation of $2.58 billion. This comes after a period of strong growth, with the company's share price climbing more than 62 per cent over the past 12 months, mirroring the positive trend enjoyed by many WA-based contractors.
